Recent Updates
- Iceland: International Reserves (Nov)
- US: Producer Prices (Nov)
- Albania: BOP (Q3)
- US: Producer Price Indexes by Industry Detail (Nov)
- US: Producer Price Indexes by Commodity Detail (Nov)
- UK NCI Index (Dec)
- Moldova: Industrial Production (Oct), CPI (Nov)
- Chile: Economic Expectations (Dec)
- US: Manpower Employment Outlook Survey (Q1), NFIB Small Business
- more updates...
Economy in Brief
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
U.S. Gasoline Prices Fall; Crude Oil Costs Rise
Gasoline prices declined to an average $2.42 per gallon (-2.6% y/y)...
U.S. JOLTS: Job Openings and Hires Rates Improve
The Bureau of Labor Statistics reported that the total job openings rate improved to 4.5% during October...
OECD LEIs Point to Weakness
OECD LEIs point to weakness ahead for the OECD area as well as separately for the OECD seven largest economies, the euro area, and the U.S....
by Tom Moeller November 27, 2007
On average, retail gasoline prices last week held at the prior period's level of $3.10 per gallon, according to the US Department of Energy survey.
Divided by consumer prices other than energy, these gasoline prices are just below the high reached in 1981.
Yesterday, prices for spot WTI crude oil stood at $97.71 per barrel, down slightly from last week's average.
In perhaps a favorable sign for home heating bills this season, natural gas prices continued the move sideways at the high end of the recent $6.5 - $7.5 per mmbtu range (-0.3% y/y).
Gold prices continued to hover around the $800 per ounce level and the level surpassed the previous record price reached in early 1980.
Oil Shocks and Price Stability from the Federal Reserve Bank of St. Louis is available here.
| Weekly Prices | 11/26/07 | 11/19/07 | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon) | 3.10 | 3.10 | 37.9% | 2.57 | 2.27 | 1.85 |
| Light Sweet Crude Oil, WTI ($ per bbl.) | 98.83 | 91.18 | 70.3% | 61.11 | 58.16 | 41.78 |
| Gold: Handy & Harmon ($ per Troy Oz.) | $795.50 | $804.25 | 27.4% | 628.70 | $507.40 | $443.40 |
